Importing with a twist

[Supa Dexta]

Heres an odd scenario.

- Get approved for loan, tell them you're shopping all over and will let them know when you have a vehicle picked out.

- find one, put a deposit on it,

- go to bank and tell them you've found one

- they tell you they won't release funds for a car that isn't registered in canada, since they can't do a lien check

Well shit!... You are left to find the money somehow, ie, have a friend pay for the car to get it back to canada.

At this point, are they required to register it, or could I register in my name, have them write me a bill of sale, and then have bank release the funds to then. Effectively skipping them having to pay for a registration.

Any ideas on this?? Ha.. Importing has it's moments. :nut:

Because the way I see it even if have someone give me the cash, I buy it in my name, and register it.. Why would the bank be required to pay whoever gave me money, since I have a paid in full car in my name..

[SprayGUN]

I prefer to live my life this way.

If I don't have the money to buy something, I don't buy it. It's not mine if I have to borrow to get it.

[Supa Dexta]

Cool story, now fuck off.

[JRSC00LUDE]

Originally posted by Supa Dexta
Cool story, now fuck off.

:rofl:

[Redlyne_mr2]

your friend would have to be approved through them for the funds. but then that would mean your friend is in the same situation as you are now.. so yah.

[Weapon_R]

Originally posted by Supa Dexta
Cool story, now fuck off.

bwahahah :rofl:

You probably hit the nail on the head though...banks are pretty reluctant to release funds on cars that aren't even in the country. One option would be to try and apply for a personal loan rather than a car loan and see if you qualify like that. Also, have you tried to show them a carfax report and a letter from the bank (if there was once a loan on the vehicle you are purchasing) verifying that they have no further interest in the vehicle?

[Supa Dexta]

They said they wouldn't accept it (carfax..dealer letter..etc) That they have to do "their own search"...

My options are limited.. I don't want to have my parents/friends in NS buy and then have to register it/pay tax there (vehicle is on the eastern seaboard), Since tax is so much there.

If there was someone local who would buy it and then turn around and sell to me, I could pay a fee for their service.. But thats not exactly an easy option either, since I had planned to fly to NS tomorrow and then drive down to get it next week..

But all and all, sort of fucked myself on this one.. Well the bank did, just because they forget to throw in the US part till the end...

And the only reason they are securing the vehicle against the loan is because I took the summer off, and have had no income since last spring.

[dannie]

What you ar thinking is correct. If your friend has the cash to pay for it, have him loan you the money to buy, he buy it (his name on the Bill of sale), bring it over the border, do your modifications, do all the inspections, get insurance, have him sign a bill of sale over to you and you register it.

Then go back to your bank and get your loan. Give your bank a bill of sale from your friend to you and you are done.

You were on the right track.

[Supa Dexta]

So you believe they aren't required to register it? Even if they are importing it/buying it? (not held by law to have it done themselves within a certain time frame?)

I could get the inspections/ register in my name. Then get the bill of sale and do that part of things?

[SprayGUN]

Originally posted by Supa Dexta
Cool story, now fuck off. a+ reply would read again. Now seriously, how about just saving up the money to buy it and avoiding the bank troubles?

[Supa Dexta]

You didn't take my advice, why should I take yours? Learn to read. I haven't worked all summer.

I require a truck to go back to work, therefore I got a loan. So again, remove yourself from my thread. Or have your 3rd banning coming.

Ps, it's an 08 vehicle, so if you want to loan me 500 bucks to go buy a fucking 1980's caravan giver'...

[Redlyne_mr2]

Originally posted by Supa Dexta
So you believe they aren't required to register it? Even if they are importing it/buying it? (not held by law to have it done themselves within a certain time frame?)

I could get the inspections/ register in my name. Then get the bill of sale and do that part of things?
If your friend just gives you the money you could do everything on your own, in your name.

[Supa Dexta]

But the bank won't give them money in that case from what I understand. Since at that point I have the vehicle, in my name and paid for.

[SprayGUN]

Originally posted by Supa Dexta
You didn't take my advice, why should I take yours? Learn to read. I haven't worked all summer.

I require a truck to go back to work, therefore I got a loan. So again, remove yourself from my thread. Or have your 3rd banning coming.

Ps, it's an 08 vehicle, so if you want to loan me 500 bucks to go buy a fucking 1980's caravan giver'... :rofl: Your insults are weak.

[JRSC00LUDE]

Originally posted by SprayGUN
a+ reply would read again. Now seriously, how about just saving up the money to buy it and avoiding the bank troubles?

How about stop being a fucking douchebag? :rolleyes:

[SprayGUN]

What kind of truck is it.

[SprayGUN]

Originally posted by JRSC00LUDE


How about stop being a fucking douchebag? :rolleyes: Considering I'm not the one throwing weak insults that makes me a douche huh? :rolleyes:

[Redlyne_mr2]

Originally posted by Supa Dexta
But the bank won't give them money in that case from what I understand. Since at that point I have the vehicle, in my name and paid for.
Did you get confirmation from the bank.. it's really no different except for the fact that you've paid for the car once already. Theyd be basically putting a loan against the car, it would be registered here and ready to go so I cant see them making a huge fuss over the now or later scenario.

[Supa Dexta]

Yes, loans been confirmed. Thats why I went ahead and put a deposit down. I was at the bank for another meeting today for another matter, and mentioned the truck part of things, and thats when they told me no go.

Although I hope you are right.

[SprayGUN]

What if you try out a line of credit instead of a loan? A buddy had this problem with a subaru and he went do a different bank and took a loc.

I'm pretty sure the two are different? I don't know I don't deal with banks they are of the evil :P

[Supa Dexta]

Do you listen? at all..

I HAVE NOT WORKED SINCE LAST SPRING.

It was hard enough to get this loan. my cc's and loc's won't pay for this.

They don't give money out to people without jobs too easily. Which is why the truck is securing the loan.

[dannie]

There is no law that says if person A bought the vehicle, he has to register it. Person A can bring it in, do all the paperwork and as long as they have it in compliance; they do not have to register it. They can park it in their driveway and sell it if they want to.

[Supa Dexta]

excellent.

[krazykhoja]

Originally posted by SprayGUN
What if you try out a line of credit instead of a loan? A buddy had this problem with a subaru and he went do a different bank and took a loc.

I'm pretty sure the two are different? I don't know I don't deal with banks they are of the evil :P

Well if you don't deal with banks don't make generalizations that they are evil...obv. banks stay in business for a reason people need them...maybe you don't need it because you can keep the whole $20 you have to your name under your mattress...but for most people banks are good to have because people don't like keeping all their money at home...and would prefer to earn some interest on money. Or maybe you have millions of dollas kept in a safe in your paid off mansion in which case kudos...but a bank would give you decent interest on those millions allowing you to work less as your money would be making you money.



To the original OP...I hope all works out for you...sucks the bank wasn't up front about the US part first...but I'm thinking they thought you meant a CDN car so didn't think to mention that...one option that might work is to have your parents get a LOC in NS and buy the car for you...and you can get the loan back here and then pay your parents back for the car (if that makes any sense)...Best of luck though...hopefully things work out

[Supa Dexta]

Thats what I think I'm going to do, my parents are good for the money. I just didn't want to put them in a position where they had to register or insure it for a day.

[Supa Dexta]

Well I'm flying to NS tomorrow. And will get this all sorted out next week. Seems do able though.

[realazy]

If you don't mind paying a fee for someone to do it, why not pay a little more and get a broker to do it? Maybe use the services of nbaker00? He brings in cars for people from the states right? He can sell you the car after it's landed and registered.

[Supa Dexta]

That was the original idea, I've since moved on...